Risk Trigger Event definition

Risk Trigger Event means that any of the following has occurred:

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Risk Trigger Event means that any of the following has occurred: (1) AUSA does not have statutory surplus of at least $300 million; (2) AUSA's representation and warranty contained in Section 25 of this Agreement (dealing with licensure/accreditation status and related matters) is no longer true and correct, except that if AUSA elects to, and does, provide additional security in accordance with the requirements of the last paragraph of Section 25 of this Agreement, no Risk Trigger Event will be deemed to have occurred; or (3) AUSA no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ============================================================== Major Rating Agency Minimum Applicable Rating: ============================================================== Fitch IBCA, Duff & P▇▇▇▇▇ A rating of "A-" or higher. -------------------------------------------------------------- M▇▇▇▇ Investor Services, Inc. A rating of "A3" or higher. -------------------------------------------------------------- Standard & Poors Corporation A rating of "A-" or higher. ==============================================================

Risk Trigger Event means that any of the following has occurred: (1) THE REINSURER's Adjusted Capital, at any point in the future, falls to a dollar amount that is more than fifteen percent (15%) lower than the dollar amount of Adjusted Capital held by THE REINSURER as of the date of its financial statements most recently published prior to the date of this Agreement; (2) THE REINSURER does not maintain its status as a licensed or accredited reinsurer under the applicable laws and regulations of Arizona and has not provided THE COMPANY with alternative security (such as a trust or letter of credit) that satisfies THE COMPANY's specific requirements and the current, applicable legal and regulatory requirements in Arizona necessary to entitle THE COMPANY to take the maximum permissible credit on its statutory financial statements. (3) THE REINSURER no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ==================================== =================================== Major Rating Agency Minimum Applicable Rating: ==================================== =================================== ------------------------------------ ----------------------------------- Moody Investor Services, Inc. A rating of "Baa2" ▇▇ higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Standard & Poors Corporation A rating of "BBB" or higher. ==================================== =================================== Definitions:

Examples of Risk Trigger Event in a sentence

At any time during the term of the Agreement, PRUCO may elect to recapture in full the coverage reinsured under this Agreement following the occurrence of either of the following events: (1) a "Risk Trigger Event" as defined in Schedule A of this Agreement; or (2) a Plan Change as described in Section 19 d.
If THE COMPANY elects to recapture the coverage reinsured under this Agreement as a result of a Risk Trigger Event, it must do so for all coverages reinsured under all agreements between THE COMPANY and THE REINSURER for which a Risk Trigger Event, as defined in the respective reinsurance Agreements, occurred.
At any time during the term of the Agreement, PRUCO OF NJ may elect to recapture in full the coverage reinsured under this Agreement following the occurrence of either of the following events: (1) a "Risk Trigger Event" as defined in Schedule A of this Agreement; or (2) a Plan Change as described in Section 19 d.
If THE COMPANY elects to recapture the coverage reinsured under this Agreement as a result of a Risk Trigger Event, it must do so for all coverages reinsured under all agreements between THE COMPANY and THE REINSURER for which a Risk Trigger Event occurred.
The occurrence of a "Risk Trigger Event" as defined in Schedule A of this Agreement.
The Funds Withheld must be an amount that is at least as great as the Security Amount (as defined in this Subsection ‘a’.) THE COMPANY has indicated will be required under this Agreement and all other related reinsurance agreements between THE REINSURER and THE COMPANY for which a Risk Trigger Event, as defined in the respective reinsurance Agreements, has occurred.
Note that in the event of a Risk Trigger Event, the net amount at risk subject to recapture may be less than the full amount ceded under this Agreement.
For recapture due to a Risk Trigger Event or insolvency, additional settlement terms are described in the “Risk Trigger Event’ section of Schedule A and the ‘Insolvency’ section, respectively.
The Funds Withheld must be an amount that is at least as great as what THE COMPANY has indicated will be required under this Agreement and all other related reinsurance agreements between THE REINSURER and THE COMPANY for which a Risk Trigger Event, as defined in the respective reinsurance Agreements, has occurred.
For recapture due to a Risk Trigger Event or insolvency, additional settlement terms are described in the “Risk Trigger Event’ section of Schedule A and the ‘INSOLVENCY’ section, respectively.

More Definitions of Risk Trigger Event

Risk Trigger Event means that THE REINSURER no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: M▇▇▇▇ Investor Services, Inc. A rating of “A3” or higher. Standard & Poors Corporation A rating of “A-” or higher.

Risk Trigger Event means that any of the following has occurred: (1) AUSA does not have statutory surplus of at least $300 million, except that if AUSA elects to, and does, provide additional security in accordance with the requirements of the last paragraph of this Section 10, no Risk Trigger Event will be deemed to have occurred; (2) AUSA's representation and warranty contained in Section 25 of this Agreement (dealing with licensure/accreditation status and related matters) is no longer true and correct, except that if AUSA elects to, and does, provide additional security in accordance with the requirements of the last paragraph of Section 25 of this Agreement, no Risk Trigger Event will be deemed to have occurred; or (3) AUSA no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies that is at least as high as the minimum levels shown in the following chart: ------------------------------------ ----------------------------------- Major Rating Agency Minimum Applicable Rating: ==================================== =================================== Fitch IBCA, Duff & Phelps A rating of "A-" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Moody Investor Services, Inc. A rating ▇▇ "A3" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Standard & Poors Corporation A rating of "A-" or higher. ------------------------------------ -----------------------------------

Risk Trigger Event means that the following has occurred: • THE REINSURER’s ratio of Total Adjusted Capital (as defined by the NAIC RBC formula and reported on THE REINSURER’s Annual Statement) to Authorized Control Level Risk-Based Capital becomes or falls below two hundred percent (200%)

Risk Trigger Event means that any of the following has occurred: (1) SWISS RE does not have statutory surplus of at least $500 million; (2) SWISS RE's representation and warranty contained in Section 25 of this Agreement (dealing with licensure/accreditation status and related matters) is no longer true and correct; or (3) SWISS RE no longer has in effect a Qualified Rating (as defined below) from at least one of the Major Rating Agencies shown in the chart below, which is at least as high as the minimum levels shown: ------------------------------------ ----------------------------------- Major Rating Agency Minimum Applicable Rating: ==================================== =================================== Fitch IBCA, Duff & ▇▇▇▇▇▇ A rating of "A-" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- ▇▇▇▇▇ Investor Services, Inc. A rating of "A3" or higher. ------------------------------------ ----------------------------------- ------------------------------------ ----------------------------------- Standard & Poors Corporation A rating of "A-" or higher. ------------------------------------ -----------------------------------

Risk Trigger Event means that the Reinsurer’s ratio of “Total Adjusted Capital to Company Action Level Risk-Based Capital (each as defined by the National Association of Insurance Commissioner’s RBC Formula) becomes or falls below two hundred fifty percent (250%).